免费日韩片_欧美成人精品一区二区男人小说_国产乱码一区二区三区四区_国产精品国产三级国产aⅴ入口_成人看的污污超级黄网站免费_欧美一级在线免费观看_成人午夜免费无码福利片_国产乱人伦偷精品视频色欲_aaa少妇高潮大片免费看_国产精品1234_亚洲精品国产suv一区88_中文字字幕在线中文无码_精品亚洲区_午夜九九九_国产av国片精品jk制服丝袜_色综合亚洲_亚洲成av人片无码bt种子下载_欧美色就色_精品少妇的一区二区三区四区_男人用嘴添女人下身免费视频

Shares greet 2005 by ending at 5-year nadir
(Agencies)
Updated: 2005-01-05 10:17

China's shares fell 1.9 percent to end the first session of 2005 at their lowest in more than five years, as investors dumped auto and petrochemical stocks on worries over earnings prospects.

The benchmark Shanghai composite index finished at 1,242.774 points, its lowest close since May 26, 1999, when it ended at 1,236.05.

Analysts said selling in large-cap petrochemical and car counters came amid ebbing confidence. The index had lost 15 percent in 2004 to become Asia's worst performer, hit by Beijing's economic-cooling steps and a series of corporate scandals.

"Sentiment is very weak, with the five-year low being broken easily," said analyst Shen Jianmin at Galaxy Securities. "There's little hope the market could reverse its weakness soon."

A woman looks at an electronic board of the Shanghai Stock Exchange at a brokerage in Beijing in Liaocheng, East China's Shandong Province January 4, 2005. [newsphoto]

Chongqing Changan Automobile Co. , China's fourth-largest auto manufacturer, was one of the biggest decliners. Its yuan-denominated A shares, open to select foreign investors, fell their 10 percent daily limit to end at 5.15 yuan.

Shanghai Automotive Co. Ltd. , owner of 20 percent of General Motors' Shanghai car plant, closed down 3.2 percent at 4.60 yuan.

"Bad news has kept on coming over the past few months on a slowdown of the auto industry, sparking a dumping in such stocks," said analyst Hu Weitao at Eagle Securities.

In the latest, sales at Volkswagen AG's car-making ventures in China fell six percent in 2004 to about 655,000 units, executives at the two ventures said on Tuesday, after surging 36 percent to 698,000 units in 2003.

Refiners were also big losers on Tuesday.

Sinopec , Asia's top oil refiner and the largest stock on mainland bourses, was one of the most active counters, falling 3.2 percent to 4.22 yuan.

Analysts said its slump reflected concerns that its earnings would be affected by several price cuts in petrol and diesel fuel since early December that might spill over to subsidiaries.

Qilu Petrochemical Co. Ltd. plummeted its daily limit of 10 percent to 6.36 yuan, its lowest in over a year. Another Sinopec unit, Shanghai Petrochemical Co. Ltd. , tumbled 8.4 percent to 4.60 yuan.

Close

Today's Top News     Top China News
PLA troops active in tsunami relief         US$3 million private aid ready for victims         Chinese avoid weddings in Year of Rooster         Shares greet 2005 by ending at 5-year nadir         Baghdad governor slain; 5 US troops die         More cold fronts expected this month	US$3 million private aid ready for victims       HK remains world's freest economy       Festival exodus starts; Peak at month end       More cold fronts expected this month       Missing Beijing climbers found       Ethnic minorities hold important posts